PayForward encourages start-up growth

A new initiative aims to connect start-ups with industry leaders, creating an e-knowledge and networking space and fueling regional economic growth

A new initiative to help start-ups find solutions to the challenges they are facing has been launched by Payfort, a regional online payment provider.

Launched during a Ramadan iftar in Dubai, which was attended by Payfort merchants and acquiring bank partners, the PayForward Initiative links start-ups with leading e-commerce experts and mentors through an e-knowledge sharing and networking space.

With research showing 70 to 80 percent of shoppers still choose cash-on- delivery as their preferred payment method, payment has been one of the most salient challenges faced by e-commerce start-ups in the region.

The initiative aims to equip businesses to overcome this challenge and gain traction of the regional e-commerce market that is expected to grow to $15 billion by 2015.

Omar Soudodi, managing director at Payfort, said: “The Arab world’s start-up ecosystem is really on the rise, a phenomenon that carries with it many benefits for the region’s wider economy, from employment creation to increased trade and commerce to economic and infrastructural development.”

Industry experts and start-up owners interested in engaging in an effective business mentoring as mentors and mentees are encouraged to register at Payfort’s website,

Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

NOTE: Comments posted on may be printed in the magazine Arabian Business

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

All comments are subject to approval before appearing

Further reading

Features & Analysis
Startup Academy: How to fund your startup

Startup Academy: How to fund your startup

Debate at the latest Arabian Business Startup Academy revealed...

Your AI-powered doctor

Your AI-powered doctor

How pioneering research project could one day help influence...

Decoding the legal framework for entrepreneurs in the UAE

Decoding the legal framework for entrepreneurs in the UAE

Certain considerations start-up founders need to keep in mind...

Most Discussed